One of the interesting approaches to tackling the black economy in the recent 2018-19 Federal Budget was the announcement of a $10,000 limit on cash payments to business. Unrecorded and untaxed transactions that occur in the community are estimated at up to 3% of GDP or around $50 billion. We have all seen examples of […]
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How Do I Start? It is all payroll software based There is no (current) portal lodgement ability There is no “registration” process, just start lodging via accounting software When Do I Start? It depends Over 20 employees need to know what they are doing before 1 July 2018 Others by 1 July 2019 But Your […]
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Effective from the first full pay in January 2018 Fair Work Commission have revised several awards in relation to overtime payments, minimum engagement periods and conversion from casual to permanent employment. These changes are (some may already apply in the award): Casual employees are now entitled to overtime rates once they work in excess of […]
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ntroduction If a Digital Service Provider (DSP) – best understood to be a software company – provides a software product or service that reads, modifies, or routes any tax or superannuation related information, then that DSP is in scope of the ATO Operational Framework. This includes DSPs that use an intermediary (such as a gateway […]
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How the ATO identifies audit targets The ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business ‘looks like’ in different industries. If your business falls outside of those benchmarks, the ATO is likely to take a closer look at why […]
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